Counsel for Blacklough, Ross Gorman, said the firm’s difficulties have largely been caused by the unprecedented 33 per cent rise in the cost of building materials experienced since 2020.
The company has a registered address at Rathcoole, Co Dublin, and its sole director is Tara King, from Naas, Co Kildare. Independent expert Cormac Mohan stated in his report on the company that the creditors would do better in a successful examinership than if the business went into liquidation. The total contract price of the five sites Blacklough is working on is €65 million. To date, the company has completed works to the value of €31 million.
It is building the units for the housing association Respond, which, counsel said, was supportive of the examinership application.